Coalition Launches Campaign to Urge Consumers to Close Wells Fargo Bank Accounts Until the Bank Drops Forced Arbitration Requirements on Customers and Employees

Broad Coalition Will Release Letter to Wells Fargo Bank CEO

For immediate release: Monday, February 27, 2017

Washington, DC, Sacramento, CA, and San Francisco, CA -- A broad coalition of pro-consumer groups are launching a national campaign targeting Wells Fargo Bank over its illegal practices, and its denying customers and employees their constitutional rights under the 7th amendment to the U.S. Constitution, to hold businesses that engage in illegal practices accountable in a court of law.

The organizations will release a letter addressed to Wells Fargo CEO Timothy Sloan calling on the bank to cease imposing forced arbitration on its customers and workers.

One major consumer organization will announce that it is withdrawing its working capital, approx. $1.8 million, from Wells Fargo, closing its account with Wells Fargo, and switching to a more consumer-friendly bank that does not impose forced arbitration on its customers or employees.

Two victims of Wells Fargo will provide details about their personal experiences with the bank’s anti-consumer practices.

Tips will be provided about how to make the switch from Wells Fargo to banks and credit unions that do not impose forced arbitration.

The National Consumers League, founded in 1899, is America's pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit www.nclnet.org.